Ivanhoe Mines (TSE:IVN) Stock Passes Above 50 Day Moving Average – Time to Sell?

Shares of Ivanhoe Mines Ltd. (TSE:IVN) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$11.57 and traded as high as C$12.48. Ivanhoe Mines shares last traded at C$12.21, with a volume of 7,949,485 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Citigroup decreased their price objective on Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating for the company in a report on Thursday, April 9th. TD Securities cut their target price on Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Stifel Nicolaus cut their target price on Ivanhoe Mines from C$22.00 to C$15.00 in a research report on Wednesday, April 1st. Royal Bank Of Canada downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, BMO Capital Markets cut their target price on Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Ivanhoe Mines currently has an average rating of “Hold” and a consensus price target of C$14.60.

Ivanhoe Mines Price Performance

The stock has a market capitalization of C$17.41 billion, a price-to-earnings ratio of 135.67 and a beta of 1.76. The company has a quick ratio of 20.86, a current ratio of 2.33 and a debt-to-equity ratio of 21.02. The business has a 50-day simple moving average of C$11.57 and a two-hundred day simple moving average of C$13.86.

Insiders Place Their Bets

In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 5,200 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of C$11.45, for a total value of C$59,540.00. Following the completion of the sale, the director directly owned 77,922 shares in the company, valued at C$892,206.90. This represents a 6.26% decrease in their ownership of the stock. Insiders sold 10,000 shares of company stock valued at $114,554 in the last three months. Corporate insiders own 44.96% of the company’s stock.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.